Key Facts About
Colombia
Spanish (official, spoken by 99%+)
51.5M (+0.9% yearly) – #3 in Latin America
74% Catholic + growing evangelical groups
37.5% under 25 → median age 31.1 Young, dynamic workforce
Urbanization: 77% urban population
Growth: $7,630 GDP/capita (2022) – mid-tier in Latin America.3.5% GDP growth (2023).Key exports: oil, coal, coffee
Trade:Latin America’s #4 economy.China is #2 partner ($18B trade in 2023).Top trade categories: energy products, agriculture
Survey of consumption
Colombian residents' financial consumption behaviors are diverse and personalized, and financial products are widely used. Financial knowledge and risk perception need to be improved. Traditional banking outlets are the main, online and mobile banking has great potential.
60%
Bank user penetration rate
13%
Credit card penetration rate
32%
Household debt ratio
Method of payment
Offline - Cash transactions:
The monetary unit is the Colombian peso (COP), and about 45% of offline transactions in 2023 will rely on cash, especially in small shops and markets.
Online - Credit card/digital wallet:
Credit cards are the main online payment method, accounting for 35%; Digital wallets and mobile payments are becoming popular, accounting for 30%; PSE is commonly used, accounting for 20%; Bank transfer and others 15%
